Future Group to launch Japanese 7-Eleven stores in India

Future Retail’s subsidiary SMHE Food Brands will open new stores as well as convert existing stores under the 7-Eleven brand.

Mar 1, 2019 by The Passage Team

Kishore Biyani led Future Group has partnered with world’s largest chain of convenience store 7-Eleven to open stores in India. The deal, done via Future Retail’s master franchisee arm SMHE Food Brands, is to open multiple format 7-Eleven stores across India.

“7-Eleven Inc. is among the most iconic global brands in the food retail landscape. We are proud to bring this globally trusted convenience store to India and build new pathways together that will offer Indian customers greater convenience and choices, within their own neighbourhood,” said Kishore Biyani, founder of Future Group.

Quoting Ken Wakabayashi, senior vice-president and head of international at 7-Eleven, Business Standard report said, “As part of the first phase, globally popular products, beverages and snacks would be available in India stores.” He said 7-Eleven would support Future Retail in implementing and localising its business model.

Launched in the US in 1927 and later bought by a Japanese company, 7-Eleven boasts of around 67,000 stores of different format in 17 countries. The name, 7-Eleven refers to its working hours: 7am to 11pm— though many stores are open 24 hours.

According to an Economic Times report, Future Retail’s subsidiary SMHE Food Brands will open new stores as well as convert existing stores under the 7-Eleven brand.

Most of Future Retail’s revenue comes from food and grocery retail - with 1,444 stores operating in 409 cities across India. The group has also acquired three smaller store brands—Easy Day, Heritage Retail, and Nilgiri's—in the past few years contributing to 15% of its sales.
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7-Eleven will rival existing players such as DMart, Reliance Smart and 24Seven. The first store is slated to come up in Mumbai.

The Passage Team

The Passage is committed to creating in-depth content over technology industry across Asia with a focus on emerging startups in the technology, healthcare, education, food, tech, travel & mobility segments.